PDIC issues draft rules to clarify denied claims appeals

Key changes include wider coverage of cases.

The Philippine Deposit Insurance Corporation (PDIC) has released draft revisions to its rules on the reconsideration of denied deposit insurance claims, seeking feedback from banks, depositors, and other stakeholders.

The proposed update to Regulatory Issuance No. 2011-03 aims to make the process for appealing denied claims clearer, more consistent, and more transparent. 

Key changes include wider coverage of cases, streamlined procedures for filing requests for reconsideration, defined timelines for resolving requests, and a standardised form that complies with data privacy laws.

PDIC said the revisions form part of its efforts to make the claims reconsideration process more accessible and ensure that feedback from the public is reflected in the final version. 

Once finalised, the updated rules will be published and shared with depositors for their guidance.